Market Updates

October 31, 2026

Modern Southern Utah home with red rock cliffs behind it, with a calculator and household bills in the foreground

Happy Halloween, St. George! Today's a good day to talk about the one thing that spooks a lot of new homeowners: the bills that show up after closing.

Your mortgage payment is the number everyone focuses on. But it's not the whole picture. Here's what the rest looks like, plus a Utah property tax rule that changes in January.

The National Numbers

Zillow and Thumbtack just put a price on it. In a report published October 22, 2026, they found the typical U.S. homeowner pays $16,566 a year, about $1,380 a month, on top of the mortgage.

Here's the breakdown:

Maintenance: $11,171 a year, about two-thirds of the total
Property taxes: $3,129 a year (estimated)
Homeowners insurance: $2,266 a year (estimated)

Insurance is the fastest-rising piece. Premiums are up 54% in five years, compared with 32% for maintenance and 19% for property taxes.

The closest metro in the report to us is Salt Lake City, at $15,553 a year. That's up 6.2% from last year and 35.5% over five years. St. George wasn't in the study, so we'd treat that as directional, not gospel.

The Good News for Utah Homeowners

Property taxes are one area where Utah comes out ahead. The Tax Foundation puts Utah's effective property tax rate at 0.48% of owner-occupied home value.

A big reason is the primary residential exemption. If a home is someone's primary residence for at least 183 consecutive days in a year, Utah exempts 45% of its market value. You're taxed on just 55%.

So a $500,000 primary residence is taxed as if it were worth $275,000. That's real money every year.

What's Changing January 1, 2027

This part matters if you're buying or have recently bought. Starting January 1, 2027, the Utah State Tax Commission says owners must file Form TC-473A with the county to keep the exemption after any change in ownership. That includes a purchase, a deed transfer, a trust transfer or a name update.

A few key points from the Tax Commission:

It doesn't carry over. The exemption won't automatically transfer to a new owner.
The deadline is September 15. Counties can't accept late applications.
Missing it is costly. The home could be taxed at 100% of market value for that year.
Second homes don't qualify. One primary residence per household.

Your Tax Notice Is Coming

The Tax Commission says tax notices arrive around the start of November. Your notice shows whether you're getting the exemption. Look for a taxable value that's 55% of market value.

In Washington County, real property taxes are due November 30 every year, even if your notice never shows up. If you bought this year, the county notes your title company prorated taxes at closing. Your settlement statement shows the split.

Our Suggestions

For buyers:

Budget beyond principal and interest. Get real quotes for insurance, and plan for maintenance.
Buying in 2027 or later? Plan to file Form TC-473A with the county by September 15. We're happy to walk you through it.

For homeowners:

Check your November notice for the 55% taxable value. If it's missing on your primary home, call the county assessor.
Shop your insurance. It's the cost that's climbed the fastest.

For sellers:

Keep records of recent maintenance and upgrades. Good records help buyers feel confident about what they're taking on.

Bottom Line

No tricks here, just a clear budget. Owning a home in Southern Utah is still a smart long-term move for a lot of people. You just want to know the full number going in.

Have questions about what a home will really cost you, or how these rules affect your purchase? Reach out to us here. We're here to help!